Fresnillo (LON:FRES) Stock Price Down 5.6% – Should You Sell?

Shares of Fresnillo plc (LON:FRES) dropped 5.6% on Friday . The company traded as low as GBX 1,007 ($13.39) and last traded at GBX 1,021 ($13.58). 1,248,325 shares were traded during mid-day trading, a decline of 63% from the average session volume of 3,374,354 shares. The stock had previously closed at GBX 1,081 ($14.37).

Analyst Ratings Changes

Several analysts recently weighed in on FRES shares. Canaccord Genuity Group raised their price objective on Fresnillo from GBX 760 ($10.11) to GBX 805 ($10.70) and gave the company a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 880 ($11.70) target price on shares of Fresnillo in a research note on Thursday, March 13th. Finally, Berenberg Bank raised Fresnillo to a “buy” rating and raised their price objective for the company from GBX 840 ($11.17) to GBX 1,020 ($13.56) in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of GBX 824 ($10.96).

Fresnillo Trading Down 5.6 %

The company has a debt-to-equity ratio of 23.55, a current ratio of 5.88 and a quick ratio of 3.28. The company has a market cap of £9.43 billion, a price-to-earnings ratio of 38.05, a price-to-earnings-growth ratio of -1.58 and a beta of 0.15. The business’s fifty day moving average price is GBX 877.31 and its 200 day moving average price is GBX 744.33.

Fresnillo Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, April 17th will be given a $0.68 dividend. This represents a dividend yield of 5.49%. The ex-dividend date is Thursday, April 17th. This is a positive change from Fresnillo’s previous dividend of $0.06. Fresnillo’s payout ratio is 29.82%.

About Fresnillo

Fresnillo plc is the world’s largest silver producer and Mexico’s largest gold producer, listed on the London and Mexican stock exchanges.
The Group seeks to create value for stakeholders across precious metal cycles, focusing on high-potential silver and gold projects that can be developed into low cost, world-class mines.
Following a decade of consistent and successful progress, the Group is now focused on consolidating its growth and advancing its pipeline in order to deliver further growth in the years ahead.